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In this exclusive first image from the second film, The Desolation of Smaug, in theaters Dec. 13, 2013, we see Bilbo Baggins going for the gold. To be more exact, we see Martin Freeman’s reluctant hobbit hero splayed out on a massive pile of treasure, looking up in hobbit-y alarm at what we can probably safely assume is an enormous and not very happy fire-breathing dragon named Smaug.

In fact, as anyone who’s read the book knows, the tale of The Hobbit — which Jackson is expanding considerably by drawing on some 120 pages of appendices Tolkien wrote to The Lord of the Rings that elaborate on the story — actually continues well past the face-off with Smaug at the Lonely Mountain, culminating eventually in the epic battle Battle of Five Armies, involving Laketown men, orcs, dwarves, goblins, elves, wargs, and giant eagles.

“The dragon is a huge, wonderful, amazing part of the story, but it doesn’t end there,” says screenwriter and producer Philippa Boyens. “Everyone can suspect there’s a rather large battle in film three.”